Red tubes?

Probably some variation on spionid worms, or worms of some sort. I doubt they're harmful.
 
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I would trim it and then rubber band those trimmings to a ceramic disk(s) or small piece(s) of live rock and then sell it.

Looks cool. If you were closer I'd offer to come buy and take some off your hands but that is more than a day trip LOL..
 
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